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Bus rapid transit (BRT) system in Venezuela

Top 10 BRT projects in Latin America

The challenges of financing construction of underground railways in Latin America, estimated at US$70m-100mn per kilometer, opens up opportunities for less costly solutions, such as BRTs, which require about US$10mn/km.

Transmilenio in Bogotá holds the world record of carrying up to 47,000 passengers per hour, despite service problems stemming from a lack of funding.

BNamericas holds a database with over 500 infrastructure projects in Latin America, a region that according to multilateral banks should invest at least two percentage point of its GDP on infrastructure to close the gap. According to our database, the top 10 early-stage BRT projects in the region carry a total investment of almost US$9.5bn.

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All eyes are now on the BRT Transolímpica, a project to build a 23km express line linking the Rio de Janeiro neighborhoods of Barra da Tijuca and Deodoro, the two main hubs for the 2016 Olympics.

The project includes 18 stations and two terminals whose operation and maintenance will be subject to a 35-year concession. The system, which will operate with 86 articulated buses to serve about 95,000 passengers per day, includes the construction of a 1.53km tunnel and 48 bridges and viaducts. The final tunnel of the Transolímpica project was cleared through the Engenho Velho mountain on August 4.

Paraguay will use the proceeds from the country's second US$350mn sovereign bond offering to finance paving 1,500km of new roads, public works ministry MOPC said in a statement. *** Venezuela plans to invest US$48.5mn to revamp...

Venezuela has launched a new transport system in southern Amazonas state, the government said in a statement. The Transamazonas system will have 31 buses and transport 21,000 passengers in Puerto Ayacucho, Amazonas' state...

Venezuela's government has committed to investing as much as 42bn bolívares (US$6.68bn) in improving road infrastructure in the country. The plan is built upon four major pillars: the development of the major project, making...

The project contemplates to expand the cable car and the construction of a thematic park in the zone of El Irón, which will be one of the stations of the service, with the objective of transport the large numbers of tourists visiting...

Paraguay will use the proceeds from the country's second US$350mn sovereign bond offering to finance paving 1,500km of new roads, public works ministry MOPC said in a statement. *** Venezuela plans to invest US$48.5mn to revamp...

Many countries in Latin America have given the impression of having unpredictable, unstable economies, where doing business is as risky as playing Russian roulette. High, sustained economic growth rates, low inflation, trade...

Many countries in Latin America have given the impression of having unpredictable, unstable economies, where doing business is as risky as playing Russian roulette. High, sustained economic growth rates, low inflation, trade...

The Venezuelan state's omnipresent role in the economy, a tense political situation and a worsening financial situation make it increasingly difficult for infrastructure investments in the country, according to BNamericas' latest...

Venezuela's President Nicolás Maduro has kicked off a new transport system in Aragua, a small state in the north of the country, according to a government release. The Transaragua system will have 85 buses in a first phase...

Although economies in some Latin American countries may have cooled down somewhat compared with 2011, the region continued to flourish in 2012 as numerous billion-dollar infrastructure projects were launched, inaugurated or continued...

The Venezuelan state's omnipresent role in the economy, a tense political situation and a worsening financial situation make it increasingly difficult for infrastructure investments in the country, according to BNamericas' latest...

China stunned the world recently by announcing a massive US$157bn infrastructure plan to add new momentum to its economic growth. On a similar, but still remarkable note, Brazil committed some US$66.5bn for the same purpose few weeks...

BNamericas delivers on-the-ground insight and trusted business intelligence to companies and investors active in and entering Latin America. Identifying opportunities early on and connecting clients with decision-makers across 12 industries, BNamericas is the edge your company needs in Latin America.

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Methodology & Procedures

Definitions

Projects covered include state-owned and private projects in the Infrastructure, Electric Power, Oil & Gas (excluding upstream), Water and Waste, and Mining sectors.

Where applicable, a project is considered as such until the end of construction and ramp-up to full capacity (with the exception of mining projects, where the date of commissioning signifies the end of the project). Projects must have a:

Data

For state-owned projects, initial information about the start date and estimates for completion and investment are taken from original signed contracts, along with addendums and annexes.

If original contracts cannot be obtained, information is taken from public documents, presentations, news articles from BNamericas archives, and external sources.

In cases where contracts are subject to approval by legislators, the start date is the date of the law or legislative approval.

In the case of private projects, information is taken from public sources, such as stock exchange filings, annual reports, company presentations, third party research and press releases.

In judging the timing of investment decisions for private projects, great care was taken to differentiate between large projects receiving environmental approval and proceeding directly to construction, and smaller projects where the investment decision hinges on securing financing.

Best care is taken to ensure that recorded data is correct at the time of entry and that each entry is backed with a relevant source.

The greatest care possible was taken to ensure consistency of information in order make a like-for-like comparison in project costs. Insofar as the figures rely on disclosure by the organization or company responsible, the figures can be considered to be conservative in nature.

No attempt was made to adjust figures for inflation during the course of research or for consideration of the time value of money.

Validation

In the case of state-owned projects, validation is carried out where possible with either a member of the consortium, EPC contractor, a relevant state agency or advisors to either party.

Currency

Projects costs are measured in US dollars. Where project costs are measured in a local currency, amounts are converted to US dollars at the date of the relevant announcement, signature or report.

Severity of deviation from original estimates

The severity of deviation from original estimates is defined according to set criteria.

Timing

Status

Condition

Ahead of time

95% of original estimate or below (measured in months)

On time

95% to 105% of original estimate

Minor changes

105% to 120% of original estimate

Medium changes

120% to 160% of original estimate

Major changes

Over 160% of original estimate

Budget

Status

Condition

Ahead of budget

95% of original budget estimate or below

To budget

95% to 105% of original budget estimate

Minor changes

105% to 120% of original budget estimate

Medium changes

120% to 140% of original budget estimate

Major changes

Over 140% of original budget estimate

Changes in Scope

Changes in scope beyond the start date are not accounted for.

Language definitions

Where guidance is non-specific as to dates for completion, the following is used. Project to be completed by 2018 = December 31, 2017 Project to be completed in 2018 = December 31, 2018